Dive Brief:
- Houston-based Satterfield & Pontikes Construction has purchased Eagle Contracting, a Dallas/Fort Worth-based general contractor focused on the water and wastewater industry. The terms of the sale were not disclosed.
- The acquisition between the two privately held companies adds to S&P's growing construction specialty portfolio and supports the growth of its geographic footprint in Texas, according to a Dec. 20 press release announcing the deal.
- Eagle Contracting will retain its name, and Roy Ewen, president, and Billy Haynes, vice president, will stay in their current leadership roles and join the S&P executive team. There are no planned operational changes for the 34-year-old, 150-employee company, the release said.
Dive Insight:
According to Ewen, each company offers something that fulfills a need the other has.
"As we look to grow our business beyond North Texas, S&P's existing offices in Dallas, Houston, Austin and San Antonio help us leverage our capabilities," said Ewen. "Additionally, by accessing S&P's back-of-the-house resources, including the technological innovations for which they are known, we can focus on what we do well and compete more easily with the other nationally-ranked contractors in our field."
Eagle's reputation as a company that works collaboratively with its clients was part of what attracted S&P, according to S&P CEO George A. Pontikes Jr.
"We have been very impressed not only with Eagle's track record of completing projects on-time but also with its approach of getting jobs done efficiently, safely and with the highest performance standards," Pontikes said in the release.
"One of S&P's core values is to 'do the right thing for the right reason' and with Eagle we are certain we will maintain that in the water specialty market."
Founded in 1989, S&P provides a full range of pre-construction, construction and consulting services through a variety of delivery methods including general contracting, construction manager at risk and design-build. Serving both the public and private sectors regionally and nationally, it works in the aviation, education, healthcare, industrial, mission critical and multifamily market sectors.
With the addition of Eagle Contracting, the S&P family of companies now includes six specialty construction subsidiaries, including:
- Rollcon
- Westway Construction
- Greco Structures
- Pontikes Development
- Rocket Concrete Pumping
The announcement comes on the heels of two other recent construction-related acquisitions. In November, Chen Moore and Associates, a civil engineering consulting firm based in Fort Lauderdale, Florida, acquired Fred Wilson & Associates, a Jacksonville, Florida-based engineering company.
That same month, New York City-based STO Building Group acquired Fairfield, N.J.-based RC Andersen Construction, its third acquisition of a major construction firm in two years.
